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Gift tax

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(Querist)
23 July 2015 Sir, If a immovable property is received by a unregistered society as a gift by a unregistered trust, then in that case what are the tax obligation on society under section 56(2)(vii)
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Rupesh Jain

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Rupesh Jain (Expert)
23 July 2015 in case of recipient its applicable to individual or huf not on other .
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CA Aneesh Jain

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CA Aneesh Jain (Expert)
23 July 2015 It will be taxable as section 56(2)vii is applicable on individual and huf only.
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Anurag Kedia

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Anurag Kedia (Querist)
23 July 2015 Thank for the kind reply but as society is not treated as individual in that case we can avoid gift tax
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